Hyderabad: The Telangana State Waqf Board has witnessed a significant increase in its revenue over the past 10 months, with its income doubling compared to previous periods. This improvement highlights the board’s enhanced performance and suggests that, with further reforms, it could generate crores more by the end of the financial year.
A review of the board’s financial performance reveals a steady rise in income from multiple sources, particularly from dargah auctions and hundi collections. Between February and December 2023, revenue from dargah-related auctions surged to Rs.12.77 crore, compared to Rs.6.56 crore recorded between January 2023 and January 2024.
Similarly, income from hundi auctions at various dargahs saw a sharp increase. The earnings, which stood at Rs.89.43 lakh between January 2023 and January 2024, jumped to Rs.1.92 crore between February and December 2023.
However, rental income for the board showed a decline. While the revenue from rent was Rs.69.17 lakh in the previous period, it dropped to Rs.52.24 lakh in the last 10 months.
The board has also earned Rs.1.14 crore in interest from fixed deposits over the past 10 months, compared to Rs.1.04 crore in the previous financial year. Additionally, income from leased agricultural lands rose to Rs.23 lakh, up from Rs.19 lakh recorded last year.
A key financial challenge for the Waqf Board remains the pending arrears. It is seeking to recover Rs.396 crore from the Telangana government, particularly from the Greater Hyderabad Municipal Corporation (GHMC), for land acquisitions. Additionally, Rs.70 crore is pending for land acquired for road expansions and other projects, with Rs.40 crore specifically linked to land taken for Dargah Hazrat Noori Shah Bandlaguda.
Chairman of the Telangana Waqf Board, Syed Azmatullah Hussaini, is making efforts to recover these outstanding amounts, which could further boost the board’s income significantly.
The Judiciary Department under the Telangana Waqf Board has contributed Rs.25.4 crore to the board’s earnings in the past 10 months. Meanwhile, the board has also expanded its support for imams and muezzins, increasing the number of beneficiaries receiving monthly salaries by 1,445. The total number of salaried imams and muezzins now stands at 15,647.
Additionally, there has been a notable rise in the collection of the Waqf Fund, further strengthening the board’s financial position.
